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REAL ESTATE

Braidy Industries Announces Selection of Kiewit as EPC Contractor
August 17, 2018

Braidy Industries, Inc. (“Braidy Industries”) is pleased to announce the selection of Kiewit (“Kiewit”) as the company’s Engineering, Procurement, and Construction (“EPC”) contractor for Braidy Atlas, its greenfield aluminum mill in Ashland, Kentucky. SMS Group (“SMS”) and EBNER Industrieofenbau GmbH Construction (“EBNER”) were also selected as equipment and furnace providers, respectively.

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Saudi Arabia awards $300m housing contract to Turkey
August 4, 2018

Saudi Arabia’s oil company, Aramco, has awarded a $300 million housing construction project to a Turkish company.

Turkey’s Kolin construction company is to work on Aramco’s housing project in the eastern province of Dhahran, according to Middle East Business Intelligence. The company"...

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Jeddah residents ask new mayor to improve services, bring investments
August 1, 2018

The residents of Jeddah want to present 14 files for the immediate attention of the new mayor, Saleh Al-Turki, to boost the city’s overall development. Custodian of the Two Holy Mosques King Salman appointed Al-Turki as the new mayor of Jeddah by a royal decree on Friday, replacing Hani Aburas.

Speaking to Okaz/Saudi Gazette, a number of citizens urged Al-Turki to take the initiative to resolve some of the city’s major problems that have"...

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Many real estate offices down shutters to avoid penalties
August 1, 2018

The rental agreement system, Ejar, is set to bring transparency in the residential sector and will end tenancy disputes after the Ministry of Labor and Social Development and the Ministry of Housing announced their plan to link the renewal or issuance of work permits with the authentication of house rent contracts in the Ejar network, according to experts.

Ejar is aimed at protecting the rights of tenants at all stages of the rental process.
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Work permit issuance, renewal linked to house rent contracts
July 31, 2018

The issuance or renewal of work permits has been linked with the authentication of house rent contracts in the Ejar network, the Ministry of Labor and Social Development and the Ministry of Housing announced on Monday.

This is in implementation of the Council of Ministers’ decision issued in February 2017 that made it mandatory for the Labor Ministry to issue or renew work permits only when house rent contracts are authenticated and registered"...

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Airbnb eyes Expo 2020, Saudi Arabia for regional growth
July 24, 2018

Home-sharing giant Airbnb has denied that the company is encroaching on the hotel market stake in the Gulf cities it operates in and instead is helping diversify the tourist offerings.

The company’s general manager for Middle East and Africa, Hadi Moussa, told Hotelier"...

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MyVilla.comFive Risks to Avoid While Buying a Home in Dubai
July 24, 2018

Home buying is no joke if you are someone investing your life’s savings in the big dream of being a homeowner. A real estate investor looking for a second home to rent out, needs to be cautious too. After all, everyone looks at real estate as an alternative to savings, to earn higher rate of returns and to find a nest to spend the rest of their life with their loved ones.

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Nuzha Industrial Estate to give way to new park
July 22, 2018

The Nuzha Industrial Estate will be vacated to make way for the Basmat Jeddah Park project on the southern side of the new airport.

A directive to this effect has already been issued by Makkah Emir Prince Khaled Al-Faisal.

The Nuzha area currently houses five industrial estates which will make way for a 2 square kilometer multipurpose facility.

The Basmat Jeddah Park will be spread on an area of 600,000 square meters. It will"...

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Boston Capital Announces Closing of Boston Capital Income & Value U.S. Apartment Fund
July 18, 2018

(AETOS Wire)-- Boston Capital, the third largest owner of apartments in the U.S. with over $19.6 billion invested, is pleased to announce the final investor closing of Boston Capital Income and Value U.S. Apartment Fund (“BCIV”). BCIV, a discretionary multi-investor Luxembourg based fund vehicle, includes financial institutions, insurance companies, pensions, and family offices among its investors and will acquire"...

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